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Rate Filings | 6 Months Ended
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Jun. 30, 2017
Regulatory Assets [Line Items] |
Rate Filings | Rate Filings This Note should be read in conjunction with Note 6. Regulatory Assets and Liabilities to the Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2016. In addition to items previously reported in the Annual Report on Form 10-K, significant regulatory orders received and currently pending rate filings with FERC and the BPU by PSE&G are as follows: Energy Strong Recovery Filing—In March and September of each year, PSE&G files with the BPU for base rate recovery of Energy Strong investments which include a return of and on its investment. In June 2017, PSE&G updated its March cost recovery petition to include Energy Strong investments in service as of May 31, 2017 which represents estimated annual increases in electric and gas revenues of $16 million and $2 million, respectively. The petition requests rates to be effective September 1, 2017, consistent with the BPU Order of approval of the Energy Strong program. This matter is pending. Basic Gas Supply Services (BGSS)—In June 2017, PSE&G made its annual BGSS filing with the BPU requesting an increase of $61 million in annual BGSS revenues. If approved, the BGSS rate would be increased from approximately 34 cents to 37 cents per therm for residential gas customers effective October 1, 2017. This matter is pending. Green Program Recovery Charges (GPRC)—Each year PSE&G files with the BPU for annual recovery of its Green Program investments which include a return on its investment and recovery of expenses. In June 2017, PSE&G filed its 2017 GPRC cost recovery petition requesting recovery for the ten combined components of the electric and gas GPRC. The filing proposes rates for the period October 1, 2017 through September 30, 2018 designed to recover approximately $47 million and $13 million in electric and gas revenues, respectively, on an annual basis associated with PSE&G's implementation of these BPU-approved programs. This matter is pending. In March 2017, the BPU gave final approval to PSE&G’s petition to recover approximately $37 million and $13 million in electric and gas revenues, respectively, on an annual basis associated with PSE&G’s implementation of these BPU approved GPRC programs. The rates were effective May 1, 2017. This Order also included the return of approximately $5 million in remaining overcollections from the completed Securitization Transition Charge. Weather Normalization Clause—In April 2017, the BPU gave final approval to PSE&G’s petition to collect $54 million in net deficiency gas revenues as a result of the warmer than normal 2015-2016 Winter Period. In June 2017, PSE&G filed a petition requesting approval to collect $55 million in total net deficiency revenues comprised of $31 million in net deficiency gas revenues as a result of the warmer than normal 2016-2017 Winter Period and the remaining carryover balance of $24 million in net deficiency gas revenue from the 2015-2016 Winter Period. The deficiency gas revenue would be collected from customers over the 2017-2018 and 2018-2019 Winter Periods (October 1 through May 31). This matter is pending. Transmission Formula Rate Filings—In June 2017, PSE&G filed its 2016 true-up adjustment pertaining to its transmission formula rates in effect for 2016. This resulted in an adjustment of $12 million more than the 2016 originally filed revenues. Remediation Adjustment Charge (RAC)—In June 2017, the BPU approved PSE&G's filing with respect to its RAC 24 petition allowing recovery of $41 million effective July 10, 2017 related to net Manufactured Gas Plant expenditures from August 1, 2015 through July 31, 2016. Gas System Modernization Program (GSMP)—In July 2017, PSE&G filed its annual GSMP cost recovery petition seeking BPU approval to recover in gas base rates an estimated annual revenue increase of $28 million effective January 1, 2018. This increase represents the return of and on investment for GSMP investments expected to be in service through September 30, 2017. This request will be updated in October 2017 for actual costs.
PSE And G [Member] |
Regulatory Assets [Line Items] |
Rate Filings | Rate Filings This Note should be read in conjunction with Note 6. Regulatory Assets and Liabilities to the Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2016. In addition to items previously reported in the Annual Report on Form 10-K, significant regulatory orders received and currently pending rate filings with FERC and the BPU by PSE&G are as follows: Energy Strong Recovery Filing—In March and September of each year, PSE&G files with the BPU for base rate recovery of Energy Strong investments which include a return of and on its investment. In June 2017, PSE&G updated its March cost recovery petition to include Energy Strong investments in service as of May 31, 2017 which represents estimated annual increases in electric and gas revenues of $16 million and $2 million, respectively. The petition requests rates to be effective September 1, 2017, consistent with the BPU Order of approval of the Energy Strong program. This matter is pending. Basic Gas Supply Services (BGSS)—In June 2017, PSE&G made its annual BGSS filing with the BPU requesting an increase of $61 million in annual BGSS revenues. If approved, the BGSS rate would be increased from approximately 34 cents to 37 cents per therm for residential gas customers effective October 1, 2017. This matter is pending. Green Program Recovery Charges (GPRC)—Each year PSE&G files with the BPU for annual recovery of its Green Program investments which include a return on its investment and recovery of expenses. In June 2017, PSE&G filed its 2017 GPRC cost recovery petition requesting recovery for the ten combined components of the electric and gas GPRC. The filing proposes rates for the period October 1, 2017 through September 30, 2018 designed to recover approximately $47 million and $13 million in electric and gas revenues, respectively, on an annual basis associated with PSE&G's implementation of these BPU-approved programs. This matter is pending. In March 2017, the BPU gave final approval to PSE&G’s petition to recover approximately $37 million and $13 million in electric and gas revenues, respectively, on an annual basis associated with PSE&G’s implementation of these BPU approved GPRC programs. The rates were effective May 1, 2017. This Order also included the return of approximately $5 million in remaining overcollections from the completed Securitization Transition Charge. Weather Normalization Clause—In April 2017, the BPU gave final approval to PSE&G’s petition to collect $54 million in net deficiency gas revenues as a result of the warmer than normal 2015-2016 Winter Period. In June 2017, PSE&G filed a petition requesting approval to collect $55 million in total net deficiency revenues comprised of $31 million in net deficiency gas revenues as a result of the warmer than normal 2016-2017 Winter Period and the remaining carryover balance of $24 million in net deficiency gas revenue from the 2015-2016 Winter Period. The deficiency gas revenue would be collected from customers over the 2017-2018 and 2018-2019 Winter Periods (October 1 through May 31). This matter is pending. Transmission Formula Rate Filings—In June 2017, PSE&G filed its 2016 true-up adjustment pertaining to its transmission formula rates in effect for 2016. This resulted in an adjustment of $12 million more than the 2016 originally filed revenues. Remediation Adjustment Charge (RAC)—In June 2017, the BPU approved PSE&G's filing with respect to its RAC 24 petition allowing recovery of $41 million effective July 10, 2017 related to net Manufactured Gas Plant expenditures from August 1, 2015 through July 31, 2016. Gas System Modernization Program (GSMP)—In July 2017, PSE&G filed its annual GSMP cost recovery petition seeking BPU approval to recover in gas base rates an estimated annual revenue increase of $28 million effective January 1, 2018. This increase represents the return of and on investment for GSMP investments expected to be in service through September 30, 2017. This request will be updated in October 2017 for actual costs.

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